SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2021 Supreme(Mad) 2785

J.NISHA BANU
Tamilnad Mercantile Bank Ltd. , Through its Manager, Kalakkad Branch – Appellant
Versus
T. David Kamaraj – Respondent


Advocates:
Advocate Appeared:
For the Petitioner: Mr.N.Dilip Kumar

ORDER :

The petitioner has filed this Civil Revision Petition to set aside the docket orders, dated 17.06.2019 and 08.10.2020 in O.S.S.R.No.3694 of 2019, on the file of the learned Subordinate Judge, Vallioor and to number the suit in O.S.S.R.No.3694 of 2019, on the file of Subordinate Court, Vallioor.

2. The revision petitioner/Bank is the plaintiff and the respondents are the defendants in the suit in O.S.S.R.No.3694 of 2019.

3. The petitioner's case is that, the first respondent herein availed working Capital loan for a sum of Rs.98,00,000/- (Rupees Ninety Eight Lakhs Only) by signing a Memorandum of Deposit of title deed, registered in the office of SRO, Kalakkad vide Doc.No.1826 of 2014 and the second respondent herein stood as a guarantor.

4. It is also stated that due to default, the account was classified as a No-Performing Asset on 30.04.2017. Thereafter, on 11.05.2017, action was initiated under Section 13 (2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act'), followed by a possession notice under Section 13(4) of the SARFAESI Act on 25.07.2017. The petitioner/Bank issued auction sale not

Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top